b'FINANCIAL PERFORMANCE We have been on a transformational journey sinceWe also had success driving increased research, we launched Foundation for Growth, the Companysdevelopment and innovation in clean tech across the defined performance improvement plan introducedcompany in FY19. This was evidenced by new product in FY18. Our continuous improvement actions acrosslaunches which we outline further in this report, key objectivespeople, processes and profitabilityincluding FieldNET Pivot Watch and Watchdogled to positive change at Lindsay in FY19. While weTracker CR. We also engaged in several strategic experienced the sixth consecutive year of challengingpartnership agreements with leading innovators market conditions in the agricultural industry, wein agriculture, including Nutrien Ag Solutions, continued making progress on our innovative andFarmers Edge and The Climate Corporation to collaborative strategic direction.deliver enhanced, value-added user experiences for our customers. These partnerships are geared We achieved key structural and strategic milestonestoward increasing the automation of data transfer that simplified our business and set a course forand collaboration, which help growers make more operating margin improvement in trough cycles andinformed and sustainable decisions. bolstered growth in peak cycles. In other words, we took steps to build a more resilient, productiveFor more information on our financial performance, and sustainable business. Learn more about ourplease visit our Investor Relations website.Foundation for Growth initiative. TOTALOPERATINGRETURN ON REVENUES INCOME INVESTED (in millions) (in millions) (1) CAPITAL (2)FY17 $518.0 $40.6 6.9%FY18 $547.7 $39.0 6.0%FY19 $444.1 $6.1 1.6%(1) Fiscal 2019 operating income includes costs of $15.1 million associated with the Foundation for Growth initiative (FFG costs), and a $2.8 million valuation adjustment for indirect tax credits in a foreign jurisdiction. On an adjusted basis, operating income was $24.0 million. (2) Defined as operating income after-tax (using effective tax rate) divided by the average of beginning and ending invested capital. On an adjusted basis, return on invested capital for fiscal 2019 and 2018 was 4.8 percent and 9.1 percent, respectively.6'